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  • FIRST POST
    • woody53
    • By woody53 17th Jul 15, 8:32 PM
    • 31Posts
    • 76Thanks
    woody53
    Reclaiming money back from various payday loan companies
    • #1
    • 17th Jul 15, 8:32 PM
    Reclaiming money back from various payday loan companies 17th Jul 15 at 8:32 PM
    Hi all just wanted to share some good news regarding payday loan companies.....
    From early 2011 until mid 2014 I too was caught in the payday loan trap, all my own fault may I add, I borrow the money and in the end paid every penny back, would estimate 15000 over the years maybe 20.
    Early this year I saw all the news regarding payday loan companies and irresponsible lending, unfair interest etc etc etc, so I decided to have ago and try and get a few quid back myself.
    So far I have been in contact with 5 of the companies I was lending multiple loans from at the same time with many roll overs too, I have received 4 apologies and offers totalling over 5000 and the other complaint is now with the ombudsman.
    I never expected these amounts back but if you too were in the same situation, get all your facts in order and get complaining, from the initial email sent I had the money back within 8 weeks.
Page 176
    • bspm1
    • By bspm1 27th Apr 19, 6:54 AM
    • 233 Posts
    • 422 Thanks
    bspm1
    I personally used Resolver as it houses all my communications in one place and gives me a bit of a template to use when contacting companies - but it's not for everyone many on this forum did it themselves using templates from debtcamel.
    Originally posted by Sanantonio1
    I can only speak from my experience with resolver which is excellent !

    Fortunately I have never had a payday loan but have used resolver for other complaints and my complaints have always been resolved, maybe thats why its called resolver lol .
    • albinosabre
    • By albinosabre 2nd May 19, 12:51 PM
    • 5 Posts
    • 15 Thanks
    albinosabre
    Is there any recourse a company can take if I make a claim against them whilst the loan is in progress?

    I have a substantial loan with Bamboo that was meant as a consolidation but it's now throttled my cashflow to the point where I'm struggling to repay it.

    If I claim will anything happen like they'll demand the full amount or am I safe in this respect?

    Thanks.
    • Sanantonio1
    • By Sanantonio1 2nd May 19, 7:38 PM
    • 7 Posts
    • 3 Thanks
    Sanantonio1
    No reason you can't try whilst a loan is in progress but remember, the most they will refund is interest only (I'd assume the 8% wouldn't apply if its current) and they'll deduct it from the remaining loan balance.

    Was it just the one loan or multiple consecutive/concurrent? It's much harder to claim just the one loan as usually the first time you apply is normally when most of their checks happen.

    If your loan was to clear debt for previous company loan debts - I would give them a shot too if you can - might be worth a shot applying for the Bamboo one but might be easier to claim previous loans and if successful... Use the payouts to pay off Bamboo early and reduce the interest.
    • Electricfeel
    • By Electricfeel 3rd May 19, 5:29 AM
    • 1 Posts
    • 0 Thanks
    Electricfeel
    I received an email from Wonga recently about the claims process. I haven't had a loan since 2017 but some of the early ones were from when I worked part time as a student and were not affordable. However I have always paid them back. Am I the right candidate for a claim? I'm also half way through a mortgage application so wondering if I should wait until after that in case of any searches?
    • albinosabre
    • By albinosabre 3rd May 19, 8:03 AM
    • 5 Posts
    • 15 Thanks
    albinosabre
    No reason you can't try whilst a loan is in progress but remember, the most they will refund is interest only (I'd assume the 8% wouldn't apply if its current) and they'll deduct it from the remaining loan balance.

    Was it just the one loan or multiple consecutive/concurrent? It's much harder to claim just the one loan as usually the first time you apply is normally when most of their checks happen.

    If your loan was to clear debt for previous company loan debts - I would give them a shot too if you can - might be worth a shot applying for the Bamboo one but might be easier to claim previous loans and if successful... Use the payouts to pay off Bamboo early and reduce the interest.
    Originally posted by Sanantonio1
    It was a single loan to pay off the mess I'd gotten into. Yes the payments were lower but I saw it as a lesser of two evils at the time.

    I guess the more sensible option would be to go after the others and use anything from that to put towards the bamboo one.
    • Sanantonio1
    • By Sanantonio1 3rd May 19, 8:29 AM
    • 7 Posts
    • 3 Thanks
    Sanantonio1
    No reason you can't go for both... Ultimately they are both adding their own interest on their loans. You just might find it harder to get anything back for the subsequent loan if standalone. There's quite a lot of good detail on DebtCamel to support with claims.
    • Ceramic77
    • By Ceramic77 10th May 19, 8:30 PM
    • 1 Posts
    • 0 Thanks
    Ceramic77
    Hi all, this is my debut post so apologies if I'm posting somewhere I shouldn't.

    Like so many I was, for a long time stuck in the Payday Loan spiral of doom. A black hole originally of my own making I know.
    Hopefully someone can help me with a couple of queries regarding possible reclaims, I'm sure these have been answered elsewhere but there's 175+ pages to in this forum to wade through!

    Some of the companies I was with eventually offered me repayment plans; not before letting me take endless loans prior to this. Can I still claim if the account was closed via a plan or McKenzie Hall?

    What is the latest date I can claim from, could I apply for a loan closed in 2012 for example?

    and finally, does anyone know if any of Speedycash, Early Payday Loan (EPDL),Paydayuk, Txtloan and MEM Consumer Finance still going/ part of a bigger organism these days.
    A Google search just swerved me towards other similarly named lenders but didn't conclusively answer.

    Thanks loads in advance.
    • Turtle87
    • By Turtle87 15th May 19, 11:36 AM
    • 38 Posts
    • 10 Thanks
    Turtle87
    Initial rejection from Mr Lender (PDL Finance) who offered an insulting £50 in Tesco vouchers. This was not the final response from them so I have advised them what redress I think is fair and if they don't agree then to send me they're final response so I can open my case with the FOS
    Last edited by Turtle87; 15-05-2019 at 12:10 PM.
    • holypockets
    • By holypockets 20th May 19, 11:23 PM
    • 11 Posts
    • 1 Thanks
    holypockets
    Anybody else having issues with getting refunds from 247moneybox?

    I was offered a refund over a no month ago but they still haven't paid it out.

    They've been stalling with various excuses

    1-they need to calculate the 8% interest, I did this in 5 mins
    2-its with the payments team.

    I have been spamming them with daily emails to garner some kind of response but they very rarely reply.

    I have called them and they always insist that they do not have the facility to transfer me to a) the payments team or b) a manager.

    I'm concerned that maybe they are stalling on paying out in the case that they are another pay day company entering administration.

    Would like to hear other people's experiences of getting refunds from them.

    Thanks
    Originally posted by magpie777
    Hi, can someone help me, Iíve tried reading the thread but Iím lost. Iím currently in a DMP with debts including 118, quickquid, bamboo, lending stream, piggy bank. Totals about £9000. Iíve been in a PDL cycle since 2014. Iíve had more loans with Wonga, wageday advance and sunny, mr lender, uncle buck just to name a few. How do I go about complaining? Will it affect my DMP? I donít even know where to start.
    Thank you
    Originally posted by Cem13009879
    Did you have much luck here? Iíve had a reply and an offer today - wondering how long it might take and what action I might need to put in place to ensure I see it.
    • holypockets
    • By holypockets 21st May 19, 3:49 PM
    • 11 Posts
    • 1 Thanks
    holypockets
    Has anyone had any luck/have any info on 247 Moneybox in terms of paying out refunds? Are they actually doing it? From what I’m seeing people are finding it really hard to actually receive the funds back to them?
    • albinosabre
    • By albinosabre 21st May 19, 4:49 PM
    • 5 Posts
    • 15 Thanks
    albinosabre
    Anyone heard anything from the Wong administrators recently? Last I got was the mail that confirmed any payment would likely be a fraction of an offer?
    • Turtle87
    • By Turtle87 22nd May 19, 5:46 AM
    • 38 Posts
    • 10 Thanks
    Turtle87
    No.

    Good page here for updates; https://debtcamel.co.uk/wonga-has-stopped-issuing-loans/
    • Rachsct21
    • By Rachsct21 23rd May 19, 7:39 AM
    • 4 Posts
    • 1 Thanks
    Rachsct21
    This may have been asked before but there are so many pages of comments.

    I took over 40 payday loans out with paydayuk and QuickQuid between 2007 and 2012, I complained and they both said that they wouldn’t look at them because they were outside the 6year window and that I could go to FOS but they wouldn’t look at them either. I never went to FOS because of this comment which I now know FOS would potentially look at them. It’s outside the 6month period to escalate to FOS. Do you think I could complain again and then take to FOS if I get the same response? I seen something on ppi claims from Martin Lewis saying you can claim again but wondered if it’d be same with payday loans
    • Turtle87
    • By Turtle87 23rd May 19, 10:35 AM
    • 38 Posts
    • 10 Thanks
    Turtle87
    Your best bet is to telephone the FOS and ask them. 0800 023 4567
    • tibawo
    • By tibawo 27th May 19, 4:22 PM
    • 1,129 Posts
    • 10,165 Thanks
    tibawo
    I've had a letter that my case is now with ombudsman and they wanted any additional info by 20 May.

    How long did people have to wait after this for a decision?
    After years of debt and living on the breadline feeling nothing but negative about myself, I am finally feeling that 2019 might be the year I actually get positive about it!
    • princesspennies
    • By princesspennies 30th May 19, 12:31 PM
    • 55 Posts
    • 133 Thanks
    princesspennies
    After getting caught up in the payday loan trap from 2014-2018 I have had an offer back from Lending Stream for £4800.00.. I will also have all info removed from my Credit file for 36 of the loans.

    There is a long wait from the ombudsman, i started my claim Oct 2018, all info had to be given by end of January by both parties i believe....I then waited, for quite some time before it was assigned to an adjudicator. The good news is that once they start looking at the matter its dealt with really quickly. I beleive they stated my case within a week or two, LS replied within a week to say they agreed and i acccepted. I now have a 28 day wait for the refund and my Credit file adjusted.

    There sames to be a real stigma about payday loans, but im going to use this money to repay some of my CC debt, and put towards a mortgage deposit evenutally !!! Good luck to all those who's claims are ongoing x
    • princesspennies
    • By princesspennies 30th May 19, 12:32 PM
    • 55 Posts
    • 133 Thanks
    princesspennies
    I would try your luck and reply to them asking if this is there final response. Then start a claim with FCO after wards x
    • s1983shaun
    • By s1983shaun 31st May 19, 10:13 PM
    • 8 Posts
    • 0 Thanks
    s1983shaun
    That is really positive. I sent my Lending Stream complaint to the FOS May 2018. I chased and was advised it was awaiting an adjudicator. Got a reply from an adjudicator 18 May just gone saying they upheld loans 2-25.

    Lending Stream have until the 3rd to reply, hopefully in my favour at the adjudicator and not passed to ombudsman. I had 25 loans from July 15 to July 17 with the first load a month or 2 after 3 defaults on a DMP and with lots of other paydyabloans from other providers.

    Been clear the last 2 years which is good.
    • Mandy David
    • By Mandy David 2nd Jun 19, 9:38 AM
    • 4 Posts
    • 0 Thanks
    Mandy David
    Princesspennies will you let us know if you had to wait full 28 days for your money to reach your account or they paid you quicker? Also did you have to provide them with your bank details or they just gonna use the one they have for u?
    • Fiona CW
    • By Fiona CW 2nd Jun 19, 10:26 AM
    • 100 Posts
    • 58 Thanks
    Fiona CW
    I got a letter from FOS yesterday basically saying that they are snowed under with PDL complaints and it will be months before they can deal with mine (submitted in February)
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